https://www.taxtmi.com/forum/issue?id=117911 Annual Rule 42 calculations should generally include ITC credited to the Electronic Credit Ledger during the fiscal being reconciled, including re-credits posted in returns for prior-year credits, because apportionment is tied to the date of availment. If identical credit amounts were already apportioned under Rule 42 for the prior fiscal after actual turnover was finalised, those previously apportioned amounts should not be included again in the current fiscal's reversal. en-us Thu, 14 Apr 2022 11:05:09 +0530 Thu, 23 Jan 2025 15:54:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117911 Annual Rule 42 calculations should generally include ITC credited to the Electronic Credit Ledger during the fiscal being reconciled, including re-credits posted in returns for prior-year credits, because apportionment is tied to the date of availment. If identical credit amounts were already apportioned under Rule 42 for the prior fiscal after actual turnover was finalised, those previously apportioned amounts should not be included again in the current fiscal's reversal. Discussion-Forum GST Thu, 14 Apr 2022 11:05:09 +0530 https://www.taxtmi.com/forum/issue?id=117911